OPEC SUPPLIERS FACE TOUGH DECISIONS ON PRICES
It has been another bad week on the crude oil market. Brent ended up ataround $16.40/B, some 80 cents down on the previous week's close and around$2.60/B below the support level for the OPEC fixed price structure. At the sametime, the Rotterdam netback for Arabian Light crude slipped to $14.13/B on 25February (see tables on page A11), $3.39/B below the official price of $17.52/Bfor that crude.
Sooner or later - and sooner...